Ola Rebrands as Ola Consumer, Expands into Diverse Service Offerings

• ByStartupStory     |    August 16, 2024

In a major transformation, Ola, one of India’s leading mobility platforms, has announced its rebranding from Ola Cabs to Ola Consumer. The announcement was made by CEO Bhavish Aggarwal during the company’s annual event, ‘Sankalp’. This rebranding marks a significant shift as Ola expands its reach into a wider range of consumer services.

Expanding Mobility Services

Ola Consumer will continue to focus on the ride-hailing segment, with a fresh emphasis on accessibility, affordability, and efficiency. Bhavish Aggarwal revealed plans to relaunch the popular ride-sharing service, Ola Share, which allows customers to share rides at lower costs. The service, which went live on August 15 in Bengaluru, will be gradually expanded to other cities.

Aggarwal emphasized the efficiency of the service, noting, “Despite the sharing of cab services, the deviation would be less than 20 minutes, and a maximum of two people can avail of a shared taxi under the model.”

Foraying into E-commerce

In the e-commerce sector, Ola Consumer plans to deepen its partnership with the Open Network for Digital Commerce (ONDC). The company has already seen success in this area, with its food and grocery delivery services on ONDC surpassing 40,000 orders per day.

“ONDC is the UPI moment for e-commerce in India. Ola is an early partner of ONDC and we will aim to scale ONDC across India,” Aggarwal said as per Inc42.

To support its expansion in e-commerce, Ola will offer free Krutrim Cloud services to all ONDC suppliers, including startups and SMEs, under a fair usage policy. D2C brands will also receive one year of free access to Krutrim Cloud.

New Financial Services and Innovations

Ola Consumer has also launched several new financial products, including Ola Coin, a digital currency that offers benefits across mobility, e-commerce, and logistics services. In addition, the company has introduced Ola Pay and Ola Credit, enabling customers to use Ola UPI for payments and access low-cost loans through partnerships with Tata Capital and InCred.

Ola’s financial ventures are part of a broader strategy to enhance last-mile logistics and reduce costs by about 50%. The company aims to drive cost synergies through the electrification of delivery logistics and by providing a backbone to ONDC operations.

“With a consistent focus on sustainable mobility solutions and providing a backbone to ONDC operations, Ola Consumer plans to drive cost synergies by electrifying delivery logistics and reducing logistics costs,” the company reportedly said.

AI and Automated Fulfillment

Ola Consumer is also integrating artificial intelligence into its services, with the launch of an AI shopping copilot designed to personalize the customer’s shopping experience. This AI copilot will connect with social media platforms and other apps, providing an integrated digital shopping experience.

The company also unveiled fully automated dark stores and fulfillment centers under the Ola Consumer brand. These new facilities aim to revolutionize the warehousing space and enhance the commerce supply chain.

The rebranding to Ola Consumer signifies the company’s ambition to become a comprehensive service provider, catering to diverse consumer needs beyond mobility. As Ola expands its horizons, it continues to innovate and adapt to the evolving demands of the Indian market.

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